Meadow Creek Investment Management LLC lowered its stake in Kirby Co. (NYSE:KEX) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,720 shares of the shipping company’s stock after selling 5,632 shares during the period. Meadow Creek Investment Management LLC’s holdings in Kirby were worth $1,117,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Kirby by 79.8% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,931 shares of the shipping company’s stock valued at $127,000 after buying an additional 857 shares in the last quarter. Advisory Services Network LLC grew its position in Kirby by 4,295.2% during the 4th quarter. Advisory Services Network LLC now owns 2,725 shares of the shipping company’s stock worth $182,000 after purchasing an additional 2,663 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Kirby during the 4th quarter worth approximately $207,000. Trust Co purchased a new position in Kirby during the 3rd quarter worth approximately $208,000. Finally, Boothbay Fund Management LLC purchased a new position in Kirby during the 3rd quarter worth approximately $209,000. 93.93% of the stock is currently owned by institutional investors.
KEX stock opened at $75.35 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.34 and a current ratio of 1.99. Kirby Co. has a fifty-two week low of $59.25 and a fifty-two week high of $80.90. The company has a market cap of $4,508.37, a price-to-earnings ratio of 14.01, a PEG ratio of 2.16 and a beta of 0.97.
Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, January 31st. The shipping company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Kirby had a net margin of 14.14% and a return on equity of 4.17%. The business had revenue of $708.10 million for the quarter, compared to analysts’ expectations of $612.61 million. During the same period in the previous year, the company posted $0.60 EPS. Kirby’s revenue was up 62.5% on a year-over-year basis. sell-side analysts predict that Kirby Co. will post 2.8 earnings per share for the current year.
In other news, Director Monte J. Miller sold 2,336 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $77.10, for a total transaction of $180,105.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dorman Lynn Strahan sold 1,665 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $74.56, for a total transaction of $124,142.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,430 shares of company stock worth $854,762. 2.40% of the stock is currently owned by corporate insiders.
Several equities analysts have weighed in on KEX shares. Jefferies Group started coverage on shares of Kirby in a research report on Monday, December 18th. They set a “buy” rating and a $85.00 price objective on the stock. Zacks Investment Research cut shares of Kirby from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Stephens reiterated a “hold” rating and set a $70.00 price objective on shares of Kirby in a research report on Wednesday, January 10th. Gabelli started coverage on shares of Kirby in a research report on Tuesday, January 16th. They set a “hold” rating and a $80.00 price objective on the stock. Finally, Wells Fargo upgraded shares of Kirby from a “market perform” rating to an “outperform” rating and set a $83.00 price objective on the stock in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.40.
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Kirby Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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